Limitless: An AI Podcast

Josh:
There's a chip being built right now in California that the founders of OpenAI

Josh:
believe is so important that getting access to it could decide who builds AGI first.

Josh:
In fact, the co-founder of OpenAI just testified last week that he and Ilyas

Josh:
Zizgever calculated it would take 15 years to build AGI until they discovered

Josh:
this hardware that could get them there in just five.

Josh:
The name of this company is called Cerebris and they're actually going public tomorrow.

Ejaaz:
For the longest time, it has been a unanimous consensus of who the king of AI is.

Ejaaz:
It's been NVIDIA and they've own the entire moat on AI, AI chips specifically.

Ejaaz:
And this moat has made them famous and pretty valuable.

Ejaaz:
They are worth $5.3 trillion, the most valuable company in the world.

Ejaaz:
But with success, there's a double-edged sword.

Ejaaz:
And it highlighted a bunch of constraints that NVIDIA GPUs couldn't really fix.

Ejaaz:
One of these constraints is something known as inference.

Ejaaz:
GPUs that NVIDIA create aren't as hyper-optimized towards that.

Ejaaz:
And that is the issue that Cerebris focuses on specifically.

Ejaaz:
They create these chips which generate lightning-fast inference.

Ejaaz:
What this means is if your AI models run on these Cerebrus chips,

Ejaaz:
they are lightning quick.

Ejaaz:
And in the current AI industry, we're heading towards a world where inference

Ejaaz:
is valued and matters way more than AI training for models.

Ejaaz:
In fact, it's estimated to be 10 to 50x as large by JP Morgan in their latest report.

Ejaaz:
So the point is, if Cerebrus' chips can fulfill that constraint found for inference

Ejaaz:
for AI models specifically, this could be the first real threat that NVIDIA faces on their own.

Josh:
Okay, so let's talk about briefly, before we get into the IPO,

Josh:
what makes Cerebris so special, so different? Because clearly there's some novel architecture here.

Josh:
Perhaps we can use this describing it as the pizza problem where

Josh:
every chip you've ever owned it kind of starts the same way it takes the

Josh:
silicon wafer about the size of a dinner plate here

Josh:
that i have for scale so it's this big giant thing

Josh:
and it gets cut into a series of tiny little chips that goes into your iphone or

Josh:
your ipod or your macbook or whatever it is but cerebris

Josh:
decided to question that they said what if you don't cut the pizza what

Josh:
if the whole pizza is the chip and that's exactly what they

Josh:
did they just took that giant wafer and instead of chopping it

Josh:
up into smaller chips they just created it all in one big

Josh:
thing and they had this breakthrough that allowed them to fit

Josh:
1.2 trillion transistors on

Josh:
a single wafer as opposed to someone like nvidia who currently

Josh:
has 21.5 billion and we could see the

Josh:
discrepancies on the screen here it is a huge amount of

Josh:
additional compute that you could put on a single chip now what does that result

Josh:
in because the information doesn't have to travel as far the chip is able to

Josh:
access it all so much faster so they put all the memory on the chip all the

Josh:
processes on the chip and the result is just significantly faster AI that works

Josh:
for the entire stack between inference all the way up to pre training.

Josh:
And this is a really huge win for for a lot of the industry.

Josh:
It's a big breakthrough.

Ejaaz:
And it's not just a theoretical concept, is it either? Like so OpenAI,

Ejaaz:
about probably like six months ago, invested $10 billion into their company,

Ejaaz:
and they acquired the rights to basically take over all their chip designs and

Ejaaz:
use it for OpenAI models specifically.

Ejaaz:
And we've seen that manifest in their existing models.

Ejaaz:
So OpenAI has this like world leading coding AI model, right? It's called Codex.

Ejaaz:
But what most people don't know is there's a fast mode for Codex.

Ejaaz:
It's called a GPT Codex Spark.

Ejaaz:
And it is absolutely rapid. There's like near zero latency.

Ejaaz:
It's running on cerebrous chips. So the concept isn't a concept anymore.

Ejaaz:
It's proven at scale to work with these big models.

Ejaaz:
And if you are someone that is working on the frontier of software engineering

Ejaaz:
and, you know, every iteration cycle, the speed at which you design and ship software matters a lot.

Ejaaz:
Or if you're in financial services and you need to get that product out or make

Ejaaz:
that trade, you need the fastest chips.

Josh:
So these chips are incredibly fast. I mean, we're talking 50 times

Josh:
more data on a chip than some of the nvidia chips but the

Josh:
result is that it's very expensive these chips are not cheap to

Josh:
make the good thing is is that money doesn't seem to be a problem

Josh:
when it comes to a lot of these ai companies and open ai

Josh:
has committed to what 10 to 20 billion dollars already

Josh:
and this is taking us to the headline news of the day which is the ipo the company

Josh:
that everyone is super excited about in terms of accelerating the rate that

Josh:
we get to agi is actually going public and the numbers are pretty big i mean

Josh:
this is a big deal this is the first AI hardware company to really go public

Josh:
as we're going on this parabolic trajectory.

Josh:
And I think the numbers are going to get pretty staggering in a very quick way.

Ejaaz:
Yeah. So to give some context on this, about a week and a half ago,

Ejaaz:
Cerebrus announces or basically files for their IPO.

Ejaaz:
And there's a prospectus that comes out, right, which explains basically,

Ejaaz:
you know, why they're raising and how much specifically they're going to raise.

Ejaaz:
A week and a half ago, that number was $3.5 billion that they were going to

Ejaaz:
raise. And the The price per share was roughly around $115.

Ejaaz:
Something happened immediately after that, though, which is they became 20x oversubscribed.

Ejaaz:
So there were 20 times more people that wanted to invest in this thing,

Ejaaz:
qualified, institutional, etc., for their IPO, such that they had to revise the terms, Josh.

Ejaaz:
So this ended up issuing 2 million more shares at a higher expensive price per share.

Ejaaz:
It's 150 bucks. So the total amount that they're raising is actually $4.8 billion,

Ejaaz:
call it $5 billion, $1.3 billion above what they were expecting to do,

Ejaaz:
which tells me that there is an insatiable amount of demand for this particular IPO.

Ejaaz:
Everyone's talking about SpaceX, they're talking about Anthropik and OpenAI's

Ejaaz:
potential IPOs later this year.

Ejaaz:
But this is one of the real IPOs that show that there's a huge demand in the West for AI companies.

Ejaaz:
And it's exciting to see because this is the first of many.

Josh:
Yeah, well, we have Cerebris kicking things off. Then we have the rumor for

Josh:
SpaceX, OpenAI, Anthropik, Databricks, perhaps even Stripe.

Josh:
That's a combined potential $3.6 trillion in market cap that could be entering the market.

Josh:
And we have this hot ball of money. We just filmed an amazing episode last week

Josh:
about the AI stack and where every company kind of lines up and where the opportunities

Josh:
are for this new era of AI investing.

Josh:
And this sits very squarely right in the hardware era, right next to someone

Josh:
kind of like NVIDIA, right? Like they're not quite Nvidia's size.

Josh:
They're nowhere near Nvidia's size, but they're competing on the same kind of

Josh:
level, the same type of architecture that a company like Nvidia is just at a

Josh:
very different angle using these huge pizza-sized wafers.

Ejaaz:
Yeah, so what I put and want to make on the Nvidia thing specifically is,

Ejaaz:
okay, so there's one framing of this where if the Cerebrus IPO is successful,

Ejaaz:
it's the first real signal that Nvidia's monopoly on AI chips is actually going

Ejaaz:
to be threatened, right?

Ejaaz:
And this might sound like a crazy thing to say, right? It's a small company,

Ejaaz:
they're raising $5 billion versus NVIDIA's $5.3 trillion.

Ejaaz:
There's another company which proved that NVIDIA's mode might also be shakable, right?

Ejaaz:
And that is Google last week, who became the most valuable company.

Ejaaz:
I don't think they're currently the most valuable company, but they beat NVIDIA.

Ejaaz:
And the reason why they did that was because they released these brand new TPUs,

Ejaaz:
their version of their own GPUs, which they train their Gemini model on,

Ejaaz:
which so many customers, including Anthropic and OpenAI, want to use to train

Ejaaz:
and inference their own model.

Ejaaz:
So the point is, the ground is shifting beneath NVIDIA, even though they have

Ejaaz:
like decades and decades worth of experience building these GPUs,

Ejaaz:
there might still be valid, compatible threats against their particular mode.

Ejaaz:
The other thing I want to say is, and I mentioned this earlier,

Ejaaz:
inference versus training.

Ejaaz:
For the longest time, people have said AI training is where all the money is going to be.

Ejaaz:
And that's where NVIDIA has lived and breathed over the last decade.

Ejaaz:
But what has shifted recently is what matters more is what happens after the training.

Ejaaz:
How many people are going to be using agents that query the models.

Ejaaz:
Inference is where the money is going to be made, where the value of the opportunity

Ejaaz:
is going to be huge. And Cerebrus plays directly in that point.

Ejaaz:
NVIDIA actually proved this because they acquired another company called Grok

Ejaaz:
for $20 billion, which does something similar to what Cerebrus did.

Ejaaz:
So it's validating the fact that Cerebrus is going to be valuable and now the

Ejaaz:
public can get exposure to it. It's cool.

Josh:
And I have some older benchmarks about how fast Cerebrus runs versus the rest

Josh:
of the world. uh taking a model like llama for maverick uh cerebris was delivering

Josh:
at 2500 tokens per second which is more than two times nvidia's flagship blackwell chip

Josh:
And then if you lower it down to Llama 3.1, which is a $70 billion parameter

Josh:
model, it was 20 times faster than NVIDIA.

Josh:
So the actual rate that it's able to deliver these tokens is huge.

Josh:
And one of the most important things that we're seeing right now is kind of

Josh:
reasoning, chain of thought, deep thinking of these agents.

Josh:
And when you're able to deliver tokens at a much faster rate,

Josh:
you can get from the question to the answer much quicker.

Josh:
One of the new things that we've seen in Codex recently that has become super

Josh:
popular is the backslash goal command.

Josh:
Where you can set it a command it'll go off and think for 24

Josh:
36 72 hours of time to

Josh:
collect enough information to get to a single answer this can

Josh:
make that process significantly quicker and therefore make agents

Josh:
much more capable so the reasoning speed in terms of inference in terms of delivering

Josh:
reasoning it's so important and although currently i believe fast mode on chat

Josh:
gpt is about 1.5 times the cost you have to suspect that that cost is going

Josh:
to go down at some point and that makes Cerebris a really compelling company.

Josh:
And I think that's what OpenA I saw when they made this huge investment in them.

Josh:
Now, Ijaz, I have to ask you, what are you thinking about this IPO?

Josh:
Is this something that you're interested in investing in?

Ejaaz:
It's a tricky one because my default answer is yes.

Ejaaz:
But if I want to like touch grass for a second to get off my eye holes...

Ejaaz:
The IPO is kind of already happening. It's just happening in the private market,

Ejaaz:
if that makes sense. Like, think about this, right?

Ejaaz:
NVIDIA, when they IPO'd, I believe was, they IPO'd at around $800 million.

Ejaaz:
That's million. It's under a billion dollars, right?

Ejaaz:
And currently we have like Cerebras, which, you know, they have one major customer

Ejaaz:
as OpenAI. They've proved the concept fair well, but they're raising $5 billion.

Ejaaz:
And this is all pre-IPO. So there's a lot of people that are making a lot of

Ejaaz:
money. we see this with the Anthropic secondary shares, OpenAI,

Ejaaz:
the same thing with SpaceX as well, before the actual IPO happened.

Ejaaz:
So the skeptics are saying, this is just going to be a retail liquidity event

Ejaaz:
where they're going to dump on retail and no one's going to really make any money after that.

Ejaaz:
I don't think there's a zero chance of that happening, but there is a chance.

Ejaaz:
Now, the bull case for this IPO is one specific reason, which is there is going

Ejaaz:
to be an insatiable demand for two things, Josh.

Ejaaz:
One is I need to use this AI to do things for me, whether it's agents or whether it's me prompting.

Ejaaz:
Actually, I'm more bullish on the agent side, but we can tap into that as a second thing.

Ejaaz:
Second thing is Cerebrus's chips has something very unique that NVIDIA chips can't get enough of.

Ejaaz:
And that's something called memory, specifically static random access memory.

Ejaaz:
It's a very unique type of memory, which Cerebrus installs into their chips.

Ejaaz:
And it's actually what makes them incredibly unique.

Ejaaz:
If you look at all the typical 99.9% of GPUs that people use,

Ejaaz:
they use this thing called high bandwidth memory.

Ejaaz:
It's composed of something known as dynamic random access memory.

Ejaaz:
It's kind of like the sister to static random access memory. It's cheaper.

Ejaaz:
It's more scalable. It's the sexier thing right now. It's what all the major

Ejaaz:
memory manufacturers have focused on for the last decade.

Ejaaz:
And that's what's being installed by default into these GPUs.

Ejaaz:
But there's one issue. They don't deliver the information that the memory stores

Ejaaz:
very effectively or quickly enough to allow these models to run very quickly.

Ejaaz:
Now, one solution to this is static random access memory, which Cerebris has

Ejaaz:
focused on for their entirety of their existence.

Ejaaz:
And they have perfected the design and installation method for their particular

Ejaaz:
chips. There's a reason why it looks so much larger.

Ejaaz:
You know, you used that dinner plate just now, Josh, versus the NVIDIA chips.

Ejaaz:
It is more expensive. You mentioned that the cost to use the things is more expensive.

Ejaaz:
But think about how much more value you could get by using quicker turns of your AI model.

Ejaaz:
You could end up having a super fast quant algorithm to trade your fund or to

Ejaaz:
deliver access to a product for millions of your different customers.

Ejaaz:
And that in itself might be worth billions and billions more than having a slower memory component.

Ejaaz:
So that is the clear distinction between them and what makes me the most bullish

Ejaaz:
on Cerebra's IPO specifically.

Josh:
Yeah, as I was reading about it earlier this morning, the SRAM versus DRAM conversation,

Josh:
one of the easiest ways that i was able to kind of differentiate between the

Josh:
two is an sram is much more similar to an ssd a solid state drive whereas dram

Josh:
is kind of similar to a htd a hard drive a hard disk drive something that has

Josh:
an actual needle where it has a lot more capacity but it's a bit slower meanwhile sram

Josh:
So long as there is power provided to it, it will retain that memory and information indefinitely.

Josh:
So in DRAM, one of the big problems that happens is there is this cache memory

Josh:
and it has to continue to refresh itself over and over because it's a very short shelf life.

Josh:
With SRAM, that shelf life is infinite and it can be stored as long as there's

Josh:
power and it can be recalled very quickly without that constant refresh.

Josh:
And that's the huge breakthrough. So it's a really compelling product that I

Josh:
think is very impressive and very necessary in this world. The only real other

Josh:
GPU architecture we've seen that has had success is Grok.

Josh:
And we saw what happened with them. They had an amazing exit and they are working

Josh:
now directly with NVIDIA.

Josh:
So this is the direct comparison. And for that reason, I think I'm pretty bullish

Josh:
on the company because...

Josh:
Essentially, Cerebrus is tied to OpenAI success. We know that both founders

Josh:
are actually invested personally.

Josh:
Greg Brockman and Sam Altman are both personally invested in the company.

Josh:
OpenAI is invested in the company. And OpenAI has every incentive in the world

Josh:
to scale with them and to grow with Cerebrus.

Josh:
That aligned with the fact that this is the first AI IPO we've really had in

Josh:
this chain that's going to kick things off.

Josh:
I expect there to be a lot of excitement, a lot of enthusiasm so long

Josh:
as the market continues to go up so long as these this token demand continues

Josh:
i see no reason why cerebrus wouldn't follow in that path and actually be somewhat

Josh:
successful i think i'd love for everyone who's watching to share their takes

Josh:
are you investing in the ipo why why not this is uh it's going to be a big conversation

Josh:
over the next coming weeks as we go through this another

Ejaaz:
Thing is like um okay it's one thing having a good product right it's another

Ejaaz:
thing like getting the right distribution now them signing this like 20 billion

Ejaaz:
uh partnership chip with OpenAI is good, right? You get access to, what do they have now?

Ejaaz:
Almost like a billion weekly active users or something crazy like that.

Ejaaz:
The other thing is their chips are integrated into Amazon's Bedrock platform.

Ejaaz:
I don't know if you knew this, Josh, but Amazon basically like owns the entire

Ejaaz:
enterprise compute market because they give access to every enterprise that

Ejaaz:
wants to spin up an AWS instance or get access to specific tools through AWS,

Ejaaz:
their Amazon web service.

Ejaaz:
Now, they run Cerebrus chips themselves there. So Cerebrus now has a distribution

Ejaaz:
mode through that, right?

Ejaaz:
So the point is, distribution is solved, the ingenuity of going zero to one

Ejaaz:
with SRAM is also solved, and they have the consumer mode being funneled through OpenAI.

Ejaaz:
So all of this sounds incredibly bullish, but I do want to touch on the bear

Ejaaz:
case for a very brief moment, right and i mentioned the first one um earlier

Ejaaz:
on which is the valuation.

Ejaaz:
Is pretty steep, right? The fact that they were 20x oversubscribed and they

Ejaaz:
just revised the terms in the last five days to give even more access is kind

Ejaaz:
of, I'm just like, so typically, just for those of you who don't know,

Ejaaz:
for the average IPO over the last, I think, five years, the price on IPO pops up between 30 to 80%.

Ejaaz:
So if you're a retailer, right, that wants to get involved here and like buy

Ejaaz:
this thing, you might be buying it for like a significant premium.

Ejaaz:
And these things tend to dump a little bit after the first couple of days.

Ejaaz:
And then, you know, whatever, it figures itself out. So the valuation is pretty steep.

Ejaaz:
The other thing I want to say is that OpenAI is also building their own silicon.

Ejaaz:
They have a deal with Broadcom, MediaTek, and a bunch of these other intermediaries

Ejaaz:
to design their own chip.

Ejaaz:
And Sam has specifically said that one of the major cases that he's trying to solve is inference.

Ejaaz:
So I'm kind of looking at this and I'm like, okay, so you've invested in this

Ejaaz:
company, you're going, you know, you're running their chips,

Ejaaz:
it's doing the thing, but you're also building your own custom silicon.

Ejaaz:
Now, granted, that's probably going to take years to try and figure out.

Ejaaz:
But is the idea that you eventually acquire kind of Cerebrus,

Ejaaz:
but they're IPOing, so I guess you can't really do this and merge them together?

Ejaaz:
Or are you going to eventually ditch them and they're like an intermediary solution?

Ejaaz:
And so Cerebrus might end up like losing this customer going down the road.

Ejaaz:
I don't know, but those are the two things that sound out for me.

Josh:
That's fair. Yeah, there's also they're trying to compete against the CUDA moat,

Josh:
which is i mean very powerful and very very strong

Josh:
as we know they also are i mean they're trading devaluation point

Josh:
51 times revenue a lot of these larger ai companies are trading actually at

Josh:
fairly low multiples right now a lot of the major players in the mag 7 are are

Josh:
no more than like a 20 times revenue this is at 51 and there's also one interesting

Josh:
component where there is actually a memory ceiling currently on the chips where

Josh:
they're able to fit 44 gigabytes on a chip and currently,

Josh:
that's unbelievable, but it requires a lot more

Josh:
Innovation if they're going to continue to scale to provide

Josh:
inference for multi-modality and for video

Josh:
models or for ultra long context there's going to need to be

Josh:
continued innovation and i think that the ceiling is not quite as clear like

Josh:
we're not quite clear where this can go to we know it's incredible now i'm not

Josh:
sure people really know where that's going to go to that's perhaps a longer

Josh:
term problem that's not something that would really impact the company short

Josh:
term but it is something to be noteworthy of.

Josh:
I mean, this is, it's an amazing technology. It's like in your computer,

Josh:
if you have your RAM and your hard drive,

Josh:
as separate components, this merges them into one. And now everything is so

Josh:
much faster because of it.

Josh:
And the unlock that has for generating tokens, which is the single most important

Josh:
thing that we do, is huge.

Josh:
So I think as a company, Cerebris is something to be very excited about.

Josh:
This is going to be a fascinating use case or a fascinating case study as they

Josh:
go public this week to see what that type of impact has on the market.

Josh:
And overall, I'm feeling really excited for some bullish innovation.

Josh:
I mean, Cerebris is a huge unlock in the world of AI.

Josh:
Sam and Greg saw it first. The rest of the world is going to see it this week

Josh:
as they go public. And we'll see what the downstream effects of it are.

Ejaaz:
I mean, it's the first domino of many, right? I think another obvious reason

Ejaaz:
why it's getting a lot of attention is like, it's AI summer, right?

Ejaaz:
We've got a bunch of cool IPOs that are coming up.

Ejaaz:
You know, I've got a graphic here, which is actually severely outdated.

Ejaaz:
It's funny, it values Anthropik's IPO as being around $230 billion.

Ejaaz:
And I'm like, have you looked at the secondary market for their shares recently?

Ejaaz:
They're selling at like at a trillion dollar valuation. People are literally

Ejaaz:
leasing their homes out to be able to like fund like a purchase of Anthropic secondary shares.

Ejaaz:
It's pretty crazy out there. But the point being is you've got SpaceX.

Ejaaz:
You've got Open Air, you've got ByteDance from China, you've got Anthropic that

Ejaaz:
are all planning to IPO this year.

Ejaaz:
There is a lot of money that's going to be entering the market.

Ejaaz:
Some of it will be net new coming in from retail, coming in from funds that

Ejaaz:
don't typically invest in these things.

Ejaaz:
But a lot of it is going to come from alternative types of companies.

Ejaaz:
Now, we've seen signals of where this is going to come from.

Ejaaz:
Whenever, for example, whenever Anthropic announces a new product or feature

Ejaaz:
that replaces a certain segment or industrial sector, you see the top market

Ejaaz:
cap stocks of those sectors dump as they've tweeted the announcement out, right?

Ejaaz:
So it might be like SaaS companies are cooked or whatever that might be,

Ejaaz:
but it'll be interesting to see the market dynamics because I think there'll

Ejaaz:
be a lot of money sloshing around into these big IPOs.

Ejaaz:
And then the major question that skeptics have is,

Ejaaz:
They don't think there's enough money. And this might be, you know,

Ejaaz:
the popping of the bubble metaphorically or financially.

Ejaaz:
We might see a bunch of these like crash after the liquidity event.

Ejaaz:
That's more of the bad case, but I'm choosing to remain bullish on this because

Ejaaz:
I think the demand is pretty insatiable, right?

Ejaaz:
Today, OpenAI announced like a huge partnership with enterprise for deployed engineers.

Ejaaz:
Anthropic did the same thing five days ago. So they're generating highest revenues.

Ejaaz:
Like Anthropic hit 45 billion ARR. they're aiming to hit 100 by the end of the year.

Ejaaz:
These aren't made up numbers. So, you know, I'm excited about it.

Josh:
Unbelievable businesses. And yeah, I think to your point, there may be some

Josh:
liquidity issues as we get to IPO number four, five, and six.

Josh:
This is the smallest of all or among the smallest of all of them that's happening.

Josh:
So I'm not exactly concerned about that yet, but it's going to be a crazy year.

Josh:
And this will certainly set some sort of a precedent for how the market considers IPOs.

Ejaaz:
Are you buying some of this tomorrow? I have to ask you.

Josh:
You know what? I think it'll depend on how it trades. I probably won't buy it

Josh:
at the open. Maybe wait a little bit.

Ejaaz:
You're going to wait for that 30 to 80% premium?

Josh:
I think the answer is yes. Like, I feel like I should, I should participate

Josh:
at least in a small amount in an IPO like this, because even if it is overpriced

Josh:
on the short term, it'll reprice itself over the next few weeks.

Josh:
And I feel like six months from now, this company will produce better products than it does today.

Josh:
And the same will also be true 12 months from now. So I'm not much of a trader. I'm more of an investor.

Josh:
This is a compelling investment. And I could also see a world in which it does

Josh:
get acquired or a majority of it does wind up getting bought out by another

Josh:
company. It's just incredibly important infrastructure.

Josh:
It seems valuable. We saw what happened with Grok. We might have an opportunity

Josh:
to actually participate in it again with Cerebris.

Josh:
I'm feeling bullish. I'm feeling like I want to get in the mix.

Josh:
I think I want to get involved a little bit.

Ejaaz:
Same. Hey, I'm down to buy NVIDIA at under a $10 billion valuation.

Ejaaz:
If it even achieves one of 10% of NVIDIA's market cap, that would be a win.

Ejaaz:
So yeah, I'm excited to see how this plays out.

Josh:
Yeah. Assuming that thesis holds up where we continue used to need tokens and

Josh:
those tokens were able to generate a profit, the people who can distribute and

Josh:
produce those tokens faster than everyone else will win.

Josh:
And I think that is a valid enough thesis to have me convinced.

Josh:
But to the listener, to everyone out there who has just watched 20 minutes of

Josh:
this episode, do you agree?

Josh:
Are you participating in Cerebris? Is this overpriced? Is it underpriced?

Josh:
Is it stupid? Should we even be investing or considering?

Josh:
Let us know in the comments down below. If you enjoyed this video,

Josh:
please don't forget to share with your friends. Ija, any final parting thoughts?

Ejaaz:
I'm actually curious whether the listeners of the show enjoyed this episode,

Ejaaz:
we do various different types of investment ones, the ones that we did last

Ejaaz:
week on the AI info stack got so much attention.

Ejaaz:
And we're going to do a follow up episode on that just we heard we read all

Ejaaz:
your comments, we're going to do it.

Ejaaz:
But on something like this, like, is this something that's interesting?

Ejaaz:
Do you want to hear about upcoming IPOs? I'm curious to hear from you guys.

Ejaaz:
But aside for that, I think we're all good.